Money laundering control : the South African model

de Koker, Louis 2002, Money laundering control : the South African model, Journal of money laundering control, vol. 6, no. 2, pp. 166-181.

Title Money laundering control : the South African model
Author(s) de Koker, Louis
Journal name Journal of money laundering control
Volume number 6
Issue number 2
Start page 166
End page 181
Total pages 15
Publisher Emerald
Place of publication London, England
Publication date 2002
ISSN 1368-5201
Keyword(s) laws and legislation
money laundering
Republic of South Africa
Summary Outlines the Financial Intelligence Centre Act (FICA) 38 of 2001, which completes the broad legislative framework for money laundering in South Africa. Describes the functions of the Financial Intelligence Centre, including its liaison with the South African Revenue Service, and the Money Laundering Advisory Council; both of these bodies were established by FICA. Reviews the existing legislation such as the Drugs and Drug Trafficking Act 140 of 1992, and the 1996 Proceeds of Crime Act, which was repealed by the Prevention of Organised Crime Act 121 of 1998. Points out the gaps in the legislative framework before FICA; however, over 2,500 suspicious transaction reports have been filed with the police since 1997, and South Africa has had strict exchange control for some time, with gambling, the stock exchange and banking all locked into compliance.
Language eng
Field of Research 180119 Law and Society
Socio Economic Objective 940499 Justice and the Law not elsewhere classified
HERDC Research category C1.1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2002, Henry Stewart Publications
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Document type: Journal Article
Collection: School of Law
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